The master budget embraces the impact of

Question

Quizplus · Accepted Answer

The master budget includes both operating and financing decisions, but not necessarily managerial decisions. It is a comprehensive plan that includes all aspects of the organization's financial activities, including both income and expenses, as well as financing activities such as borrowing and investing. It does not specifically address differences between budgeted and actual costs for a given cycle, as that would be part of the budgeting process rather than the master budget itself.

The Master Budget Embraces the Impact of